Economic and fundamental developments 21-02-2022 US session
21 Feb 2022 05:37 PM
The euro pared its gains against the US dollar as economic data showed an unexpected slowdown in the manufacturing sector. The sector`s PMI fell from 58.7 to 58.4, against expectations of a rise to 58.9.
Oil prices reduced their losses in the late Asian session today, as brent crude oil trading near $94. Markets are awaiting any developments regarding Russian-Ukrainian geopolitical tensions.
US stock indices contracts fell, following European stocks indices tracks, despite the US President's approval of the "principle" of a summit between America and Russia. This summit is linked to Russia's lack of military action.
US banks are closed today in celebration of Presidential Day, while the dollar index, which measures the performance of the green currency against a basket of major currencies, traded lower. The British Pound remained higher above $1.36 after the better-than-expected PMI data.